Mahindra Electric on Thursday launched its new electric three-wheeler in cargo model Treo Zor, with price starting at Rs 2.73 lakh (ex-showroom Delhi). The company said it is also looking to tap the booming e-commerce market for its products. Built on the Treo platform, the new offering comes in three variants pick up, delivery van and flatbed - and will be available at Mahindra small commercial vehicle dealerships in select cities across the country from December.
Mahindra had launched Treo range of vehicles in 2018. Mahindra Electric is in discussions with e-commerce giants such as Amazon, Flipkart and other retailers, including Reliance Retail, for bulk orders of its new e-three wheelers, and some announcement may be made soon, its MD and CEO Mahesh Babu said at the launch.
The new e-three wheeler offers higher savings of over Rs 60,000 a year, compared to the existing diesel cargo 3-wheelers, owing to its low maintenance cost, which stands at just 40 paise per km, the company claimed. "Our Treo platform demonstrates our commitment to Aatmanirbhar Bharat through the latest technology and make in India. The Treo Zor will provide a clean, sustainable and affordable solution for last-mile delivery," Mahindra & Mahindra Ltd MD and CEO Pawan Goenka said at the launch.
Treo Zor comes with an 8kW advanced lithium-ion battery and best-in-segment payload of 550 kgs. It gives higher earning opportunities. Also, the new vehicle comes with a standard warranty of 3 years/80,000 km, the company said, adding the vehicle can be charged by plugging into a 15AMP socket. "Four-wheelers, shared mobility and fleet operations are right now somewhat subdued because people's transportation not happening. It will take a little while (for these segments) to get back into full swing.
"However, the whole business of last-mile connectivity is going to pick up very rapidly because the commercial viability of electric three-wheelers are very well established and therefore there is no reason why people should not switch to electric vehicles," Goenka said during the post-launch media interaction. Stating that commerce players are very keen to convert last-mile delivery vehicles to electric vehicles, Goenka said the company has been receiving a lot of enquiries from the e-commerce players.
In fact, the first set of supply of 50 vehicles that are being made this month will go to e-commerce players only, he added. Goenka said the Mahindra Electric is in the process of finalising the potential investor for the company, which has seen significant interest from players ranging from e-commerce providers to financial as well as strategic investors.
The demand is shifting from rideshare to single or single family use products, which is affecting the four-wheeler segment right now, he said, adding the fleet operations business is certainly under the slowdown. He, however, said that for Mahindra there is very little impact in terms of demand slowdown because of its product range.
Goenka also said that its 150 km range eUV 100 will be launched by early next year. Babu said the company has invested Rs 35-40 crore in setting up the Treo platform.
"We have been investing in technology, manufacturing plant, among others, and all that put together, the total investment would be around Rs 100 crore (so far)." "The proven Treo electric 3-wheeler platform has already redefined last-mile mobility with 5,000+ satisfied customers who have traversed 35 million kms on Indian roads. Treo Zor has been developed with cutting edge technology to deliver substantial customer value proposition and is available in 3 variants to meet every customer needs," Babu added.